By Suzanne Maher
August 27, 2015
MONSANTO DROPS $46 BILLION BID FOR SYGENTA
Monsanto Co. dropped its roughly $46 billion bid for Syngenta AG after the Swiss agribusiness giant rejected a sweetened offer, dashing—at least for now—chances of a union that would have reshaped the global market for seeds and pesticides.
The surprise disclosure on Wednesday capped four months of aggressive pursuit by St. Louis-based Monsanto, which Syngenta had consistently rebuffed even as some of its shareholders pressured the Swiss company to negotiate.
The deal’s demise forestalls what some analysts anticipated, and some farmers feared, would be another round of consolidation in the global marketplace for crop seeds and chemicals, a sector currently dominated by six top firms.
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